Formfunction to shutter marketplace amid Solana NFT slump
The platform didn’t disclose the reason for its closure, but Solana NFTs haven’t been having the best run lately. Formfunction, a Solana (SOL)-based nonfungible token (NFT) marketplace, has announced its closing up shop after only 13 months of operation amid a slump in Solana NFT prices and trading volumes. On March 15, Formfunction announced it is "shutting down" on March 29 saying it “cannot continue to operate” after “much discussion and careful consideration.” We have some sad news to share today—Formfunction is shutting down on Wednesday, March 29th. This was an extremely difficult decision; however, after much discussion and careful consideration, we’ve come to the conclusion that we cannot continue to operate Formfunction. — Formfunction (@formfunction) March 15, 2023 The exact reason for closing the platform was not disclosed in the announcement. Formfunction’s head of community and marketing, known by their pseudonym “Magellan,” tweeted on March 15 that the cofoun...